More Information

Cash Out Refinancing

Cashing out refers to the refinancing of a loan where the borrowers will borrow money on their own home. If a home is appraised at $100,000 and the borrower's outstanding mortgage loan is $60,000, it is possible to enter into an 80% cash-out refinance transaction for a loan of $80,000 (80% of $100,000). The new mortgage of $80,000 will pay off the $60,000 loan and leave $20,000 cash-out to the borrowers.

What are the benefits?

By cashing out on your home, you can obtain cash on the value of your own home to pay off debts or upcoming expenses. The refinance transaction can also provide you with a better mortgage loan interest rate that will save on your monthly mortgage payments during the loan. And it's tax-deductible.

How can we help?

If you are looking for this type of refinancing,Key Financial Sources, Inc can find a program suited to your financial needs. We offer cash-out programs for Owner-occupied homes and Non-owner occupied homes with low, affordable rates.

*= The interest rates above are the current national advertised Mortgage Rates, updated daily. These are indicative rates only and are not meant to be any type of guarantee of rates currently available from Key Financial Sources, Inc. Publishing these rates is not a commitment to lend or extend credit. Credit is subject to approval, which include, among other qualifiers, income, credit and collateral. Please call one of our qualified Loan Officers to see what interest rate you may qualify for, which may or may not be the averages and examples on this page.